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Okay for your education, there is NO SS money that hasn't been spent,
there is NONE that is sitting in an account waiting for your retirement. The Federal government has already spent it. If that's true, then why is there such a thing as the SS Trust Fund and why does the Treasury Dept sell it bonds? Bert Robbins wrote: The bonds are given to the alleged SS Trust Fund by the federal government when the money confiscated from working people SS taxes are no more "confiscated" than any other tax ... is is passed through the alleged SS Trust Fund into the federal governments general fund. Wrong. Money does not "pass thru" the SS Trust Fund into the "general fund." This not a single penny sitting in the alleged SS Trust Fund, it is just one big pile of IOU's. Like I said... Treasury bonds... generally considered the most secure investment available. Truth- SS tax income is spent on only two things: SS benefits and buying Treasuries for the SS Trust Fund. Pass the pipe over here dude! "Buying Treasuries", you have got to be kidding? More like receiving pieces of paper when Congress appropriates the money alleged being deposited into the SS Trust Fund. Guess what... if a lot of people, like say the gov'ts of Japan & China for example along with the SS Trust, were not willing to invest in US Treasury debt instruments, then the U.S gov't could not indulge in deficit spending, like for Bush/Cheney's Iraq invasion for example. That's why the democrats who are "the deficit spenders" are against ANY plan that calls for PRIVATE accounts. Now please explain why Republicans, who under Bush Jr & Reagan have run up historically high deficits, are always claiming that Democrats are the big spenders? Its all politics and the art of getting re-elected! In other words, certain Republicans lie like a rug in order to fool people like you & JohnH & Nobby etc etc into voting for them, again and again. DSK |
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